2. Your small business is a big deal to us.
Business helping business
Your small business
is a big deal to us.
Financing, training and advice.

3. Connect for Success
Financing a Business
South Shore Opportunities cbdc
Krista Harding,BBA,CPA,CMA

4. Connect for Success
South Shore Opportunities cbdc is a
Community (local)
Business
Development (from the idea forward)
Corporation

5. Community helping community
Connect for Success
CBDC’s are
Community helping community
13 CBDCs in Nova Scotia
41 CBDCs in Atlantic Canada
269 organizations across Canada

6. Connect for Success
CBDCs grow the economy through the development of small - and medium - sized business.
We provide
Financial Assistance
Counselling Services
A variety of programs

7. 25 years of service to the community
Connect for Success
25 years of service to the community
Independent non-profit corporation
Run by volunteer business people in Queens and Lunenburg counties
Staff provide confidential, free, help with business:
How to start or expand or deal with difficulties
Hands on help how to do a business plan
Entrepreneurial training
FINANCING- decisions made locally.
Self Employment Benefits program

8. Our Strength is in Our Volunteer Boards
Connect for Success
Our Strength is in Our Volunteer Boards
South Shore Opportunities currently has 11 volunteer business people from Lunenburg Co. and Queens Co.

9. Financial Services Loans up to $150,000 + Existing business
Start-up business
Working capital
Equipment, Buildings
Other
Loan guarantees
Equity investment
We have a number of loan products to fit your needs. We can help from the idea forward. All ages, all sectors, from start-up to expansion and growth and succession planning. Some of our financing options are tailored to a specific group like our Students in Business program. This program offers an interest free loan up to $5,000 for a student to start their own business. It’s a great way to introduce entrepreneurship to youth in a supported way! If any of you have kids looking for a summer job – encourage them to make their own.

10. Small businesses account for over two thirds of employment in five Canadian industry categories: non-institutional health care, forestry, other services, construction, and accommodation and food.
We are also good managers of the funds we have – we have grown the 32 million granted to us into investments of over 276 million and although we are often considered a high risk lender we work hard to maintain a low write-off rate. We are in the process of implementing new policies Atlantic wide to further enhance our Board Governance model and have also put in place additional measures to ensure conflict of interest matters are addressed appropriately.

11. YOU are the most important asset.
FINANCING YOUR BUSINESS
FIRST THINGS FIRST…
YOU are the most important asset.
Product Knowledge
The business side of your business

12. KNOW WHAT YOU NEED Business Plan = Confidence
FINANCING YOUR BUSINESS
KNOW WHAT YOU NEED
Business Plan = Confidence
Do you understand your plan?

14. WHO IS APPLYING FOR THE FINANCING? Sole Proprietorship
FINANCING YOUR BUSINESS
WHO IS APPLYING FOR THE FINANCING?
Sole Proprietorship
Partnership
Corporation

15. COMMON TYPES OF FINANCING
FINANCING YOUR BUSINESS
COMMON TYPES OF FINANCING
Term Loan
Line of Credit
Credit Card

16. Term Loan FINANCING YOUR BUSINESS Set amount of money
Fixed Period of time
Interest
Repaid monthly
Each payment has some Principal and Interest Interest

17. Line of Credit FINANCING YOUR BUSINESS
Maximum amount of money authorized by bank/credit union
No fixed period
Interest can be fixed or floating
Minimum monthly payment
Payment may be at least interest or interest plus principal

18. Credit Card FINANCING YOUR BUSINESS
Maximum amount of money authorized by card issuer
No fixed period
Interest usually fixed
Interest usually much higher than other financing
Minimum monthly payment

19. COMMON TYPES OF SECURITY
FINANCING YOUR BUSINESS
COMMON TYPES OF SECURITY

20. MORTGAGE Involves real property and marine property On land
On building
On land and building
On boats

21. GENERAL SECURITY AGREEMENT
READ IT CAREFULLY!!!!
Creates an interest in personal property
All inventory
All equipment- machinery, tools, apparatus, plant, furniture, fixtures and vehicles
All accounts and book debts
All deeds, documents, writings, papers
All contractual rights and insurance claims
All patents, industrial designs, trade-marks, trade secrets and know-how
All property specifically listed or not

22. PERSONAL GUARANTEE The person signing is called the guarantor.
Guarantor agrees to pay the debt owed by the borrower should the borrower fail to do so.
Guarantor agrees that the lender will get paid before any money owing to the guarantor is paid.
Independent Legal Advice is often involved.

23. Connect for Success
Where Can I Find Money for My Business?

24. Where Can I Find Money for My Business? $ that has to be paid back
Yourself
Chartered Banks
Canada Business Financing Act
Credit Unions
Private Investors/Angels
Farmworks
There IS money for a well planned business with strong business management.
So, let’s find out how to do this.

25. Where Can I Find Money for My Business? $ that has to be paid back
Federal Government Agencies and Crown Corporations
Atlantic Canada Opportunities Agency
Business Development Bank of Canada
Farm Credit Corporation
There IS money for a well planned business with strong business management.
So, let’s find out how to do this.

26. Where Can I Find Money for My Business? $ that has to be paid back
Provincial Government Agencies and Corporations
Farm Loan Board
Fisheries Loan Board
Venture Capital Group
Innovacorp
Community Business Development Corporations
And more: let’s talk about your needs
There IS money for a well planned business with strong business management.
So, let’s find out how to do this.

27. Well…non-repayable contribution, technically
Where Can I Find Money for My Business?
FREE MONEY
Well…non-repayable contribution, technically
START Program (province)
labour
Efficiency NS
energy
Productivity and Innovation Vouchers (Innovacorp)
credit note for companies to access expertise and technical solutions from the province's academic institutions
Tier 1 $15, Tier $25,000
There IS money for a well planned business with strong business management.
So, let’s find out how to do this.

28. Well…non-repayable contribution, technically
Where Can I Find Money for My Business?
FREE MONEY
Well…non-repayable contribution, technically
Canada Media Fund
$371.2 million in funding annually to support the Canadian television and digital media industries through two streams of funding.
Convergent stream, Experimental stream.
There IS money for a well planned business with strong business management.
So, let’s find out how to do this.

29. Well…non-repayable contribution, technically
Where Can I Find Money for My Business?
FREE MONEY
Well…non-repayable contribution, technically
Homegrown Success Program
innovation, competitiveness and market development to ensure Canadian producers and processors have the tools and resources they need to continue to innovate and capitalize on emerging market opportunities.
There IS money for a well planned business with strong business management.
So, let’s find out how to do this.

30. TIPS: FINANCING YOUR BUSINESS 1) Know your industry
2) Do financial projections based on solid research
BEFORE you ask for $

31. Your small business is a big deal to us.
Business helping business
Your small business
is a big deal to us.
Financing, training and advice.
Offices: Waterfront Liverpool and King St Bridgewater or we will visit you.
(902)